ECB 'will do anything to save euro'

31 July 2012

Policymakers at the European Central Bank (ECB) are not ruling out any course of action to make sure the euro survives the current economic crisis.

Insiders with knowledge of the body's workings have told Reuters that while strong action is not likely to occur until September, officials may opt to restart their bond-buying programme or even implement quantitative easing.

The sources indicated that no such policies will be introduced in the near future, as the ECB is waiting for other factors to fall into place - such as an official bailout request from Spain - before making any final decisions.

However, the bank - which will unveil its latest interest rate decision later this week (2 August) - is willing to explore all possible avenues to ensure the eurozone does not break up.

Indeed, ECB president Mario Draghi insisted last week: "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro."

By Gary Cooper

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